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Beat the Expired Listing Rush – By Waiting

Expired Listing Postcard

Calling expired listings is a tough job. This is especially true because you’re hardly the only agent calling – a new expired could get over a dozen calls offering new representation. How do you stand out?

The best way to stand out is through a highly unorthodox tactic – waiting.

You may think that if you wait, you’ll miss out on the best expireds. However, that isn’t true. There are many reasons that a newly expired listing may decide not to re-list right away. When you use expired listing letters to mine the old expireds, after other agents have already moved on to a new batch, you’ll not only hit the homeowners at a better time – you’ll have almost no competition doing so.

Why Newly Expired Listings Decide Not to Relist

If a listing doesn’t sell, there was obviously a problem. Maybe there are needed repairs. Maybe the agent didn’t do a good job. Or, maybe the seller was unreasonable about price or other provisions. Regardless, the homeowner may not be in a position to relist right away.

Homeowners with expired listings are often worn out by the selling experience and disillusioned with their Realtor®. This alone may make them decide to take time off and relist at a different time. In addition, the deluge of calls and visits they get right after their listing fails is likely to irritate them rather than encourage them. Any Realtor® who approaches them at that time may well get a firm “no” for no reason other than overwhelm.

After a few months, these homeowners are more ready to be approached about listing again. In addition, after failing to sell the first time, they may be more ready to hear suggestions about repairs, staging, and price. This makes it a great time to reach out to them with expired listing letters.

How to Connect With Old Expireds

The great news with older expireds is that you won’t be competing with dozens of other agents to get the listing. Most agents give up after the initial “no” and move on to the next new list. By reaching out with expired listing postcards or expired listing letters after three or four months, you’ll be able to connect with homeowners more easily.

Make sure your expired listing letters address the homeowners emotions about not selling the home, but don’t place any blame on them for failing. Offer to help them discover, and correct, any issues that blocked a sale. You can keep it especially simply by sending an expired listing postcard inviting them to contact you.

Why am I recommending mailings instead of a call? For a couple of reasons. First, with cell phones being everywhere it’s easier for a call to catch people at a bad time, resulting in a “no” based more on convenience than actual consideration of your offer. Secondly, many people screen calls or don’t answer their phones. A mailing will be more likely to get attention, be able to say more for you, and faces less competition than calls or emails.

Expired listings are a great source of listing leads, but if you’re looking to beat the rush, try a new technique. Wait a few months, then follow up with expired listing letters or expired listing postcards. The seller will be in a better frame of mind and you’ll have much less competition. That’s a win-win.

Looking for help? We have a variety of expired listing postcards you can use. Take a look today!

Tips For Tackling The Expired Listing Market: Free Expired Listing Letters Download

Marketing expired listings is how many agents keep their pipelines full and it’s what they specialize in. It’s extremely targeted marketing which limits marketing expenses, you know they want to sell and they’re likely frustrated and looking for a new agent. Can you say “HOT prospect”!

Use these strategies for tackling and marketing to the expired listings in your market.

Timing is everything. You’ve heard the term “you have to strike while the iron is hot“…well, that saying holds true for expired listings if you plan to pursue them as one of your marketing strategies. Marketing to expired listings has to become a routine, something you do daily, without fail. It requires checking the MLS every day for which listings in your market have expired and following-up with that expired listing on the VERY day it expires. If you can commit to it and stick with it, it pays big dividends, because it’s such a targeted list of prospects.

Expired Listing Postcard SamplesMany Realtors® use expired listing door-hangers as a way to market to the expired listing on the very day it expires.  Door-hangers are effective because they “greet people at their door“, it isn’t as invasive or intimidating as knocking on the door and it lets the person know you went out of your way to stop by.  My favorite thing about door-hangers is that they are less likely to get lost in the pile of mail, so it stands out more.  It’s not nearly as common as postcard marketing.

Following-up is everything if you want to find success with expired listings.  Most won’t follow-up, so being one of the few who does will easily make you stand out in the onslaught of marketing the homeowner with the expired listing is receiving. Ways to follow-up could be a quick phone call offering your services and expertise as they consider their options.  Drop a letter in the mail (register below to receive some free expired listing letters for download) offering your expertise and assistance.    Send a expired listing postcard offering the same; your services, your assistance and your expertise as a consultant.   Work on establishing a relationship vs. trying to immediately get a listing agreement signed.  People with expired listings are frustrated and need consoling and understanding vs. a high-pressure sales pitch.  They want to understand what went wrong and want someone who will communicate with them.

Make sure your photo is on everything.  There are many articles on this site about the importance of a good  head-shot photo for your marketing materials.  People do business with people they know and like.  You will become more familiar to people when they can put a face with your name, recognize you around town and “see you” over and over again.  When you’re in real estate sales, familiarity and relationship building is imperative to your success.postcard-sale2

When choosing a photo for your real estate marketing marketing materials, choose a photo that shows who you are as a Realtor®/person.  If you would never show up to a listing appointment in a suit, then don’t put a photo of yourself in a suit on your real estate cards or marketing.  That’s not really who you are.  Show up on your marketing materials how you show up for appointments or open houses, that’s likely a good representation of you.

Please ask any questions you have about how to improve your “expired listing marketing game plan” and share any ideas you have that will help others with their marketing to expired listings.  We want to hear from you!Real Estate Business Cards

Get the Expired Listing Letters emailed to you along with handout “The Top Three Reasons Listings Expire”:

The documents are fully editable and and I hope it helps you get those listings! Keep us posted on your results.

Expired Listing Letters – Marketing To Expired Listings Is Super Targeted Marketing

If you’re looking for new real estate marketing ideas on how to grow your pipeline of business, expired listings may be worth considering. There seems to be a lot of “expired listing activity”, which explains the dramatic increase in both traffic and orders for “expired listing postcards”.

(FREE EXPIRED LISTING LETTERS DOWNLOAD BELOW)

As a print marketing company that caters to the Realtors®, we can see trends brewing “before the storm” actually hits. A storm is brewing and the wave is beginning. More and more agents are looking at expired listings as their specialty and offering their expertise to frustrated homeowners.

What’s going on with expired listings in your market? What’s prompted you to consider expired listings as a good market for you to pursue?

I have read some very interesting strategies for marketing to expired listings and thought I should share.

One agent who has had great success in working the “Expired Listing” market says that his success comes from such a targeted list of

prospects that HE KNOWS are looking to sell. He stated that he was mailing out thousands of real estate marketing postcards every month, which he found costly. He decided to change in his strategy and focus on the Expired Listing Market which increased his “success per postcard rate” substantially by targeting this specific segment of his market. He also noted that he didn’t send just one postcard, which is what most agents do. He sends multiple postcards, the first simply introducing himself/his team. An introduction that has nothing to do with trying to get the listing. A day or two later, he follows up with an “expired listing postcard” soliciting the business. Once he knows his competition has stopped sending marketing materials, he sends another postcard and stands out because he didn’t give up after all the other agents had. I’ve said it so many times that great marketing is about consistency and repetition.

If you receive three marketing pieces over the space of a week from one agent, I would have to assume you might give that person some attention because they clearly wish to earn your business. Receiving all that marketing in the mailbox, where there is little competition these days is also a sign of an agent who HAS a marketing plan. You wouldn’t likely be marketing if marketing wasn’t part of what you do to sell homes.

Many agents opt for printed door-hangers to prospect for expired listings. I personally believe that a combination of different marketing mediums is a great way to expose your business to any prospect. You never know which marketing medium may be the one to “click” with the homeowners you’re targeting.

Sending expired listing letters is another popular way of reaching out to the property owner of an expired listing. The way to be successful with that sort of approach is to make sure your letters are always signed in blue ink AND that that envelope is hand addressed. NO labels, it’s a sure sign of junk mail and what most other agents will do. If you want to stand out as different from all the rest, you need to BE different than all the rest.

Pick up the phone and contact the home-owner. Their contact information is likely easily available and instead of being the same as all the other agents calling, offer something different. Apologize for the frustration they must feel for having an expired listing and offer to answer the questions they have about why their home didn’t sell. Don’t sell, just offer answers…that’s what people want…they want answers why the home didn’t sell and their agent likely didn’t communicate that with them. Let them complain, let them talk, let them ask all their questions…it’s all about relationship building and showing your expertise in the market.

You’ll find a completely updated variety of Expired Listing Postcard templates on the PrinterBees website if Expired Listings is a market segment you’re considering. Remember whatever you commit yourself to, you must actually commit yourself to it for it to work for a period of time.

Get the Expired Listing Letters emailed to you along with handout “The Top Three Reasons Listings Expire”:

The documents are fully editable and and I hope it helps you get those listings! Keep us posted on your results.

 

 

 

Expired Listings Postcards

You asked for Expired Listings Postcards and we now have them available for you at PrinterBees.com.  Some of them are pretty darned funny too!  We have a super funny one coming soon that I will post as soon as it is available.

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